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Russia, China Moving Forward to Form Strategic Energy Alliance

© Sputnik / Sergey Guneev / Go to the mediabankVladimir Putin pays official visit to People's Republic of China
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BEIJING (Sputnik) - Russia and China are moving forward to the formation of a strategic energy alliance that will benefit global energy security, Russian Deputy Foreign Minister Igor Morgulov said on Tuesday.

"A very important element of our [Russia-China] partnership is the cooperation in the energy sphere and actually we can say that our countries are moving toward the formation of the strategic energy alliance, designed, among other things, to contribute to the strengthening global energy security," Morgulov said at the opening ceremony of the "Russia and China: Cooperation in a New Era" international conference.

The conference takes part in the Chinese capital for the fourth time and will wrap up on Wednesday.

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Morgulovalso said that it is possible to bring the Russia-China trade to the level of $200 billion by 2020 as the heads of state have aimed earlier.

“China, as you know, have solidified itself as our leading trade and economic partner and I think that the implementation of the goal of bringing the bilateral trade by 2020 to the level of $200 billion, is quite feasible,” Morgulov said.

Last week, Russian President Vladimir Putin said that the annual trade between Moscow and Beijing will soon reach $100 billion. At the moment, the bilateral trade stands at $86 billion, according to the president.

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